Key Points
- Red Oak Partners increased its Motorsport Games position by purchasing 23,143 shares at an average price of $3.86, bringing its holdings to 333,410 shares. The investor also made six other purchases between June 30 and August 21.
- Motorsport Games reported quarterly EPS of $0.19, beating estimates of $0.02, while revenue of $3.54 million exceeded the $2.90 million consensus forecast.
- Analyst sentiment remains neutral, with a consensus “Hold” rating. MSGM shares opened at $4.05, compared with a 12-month range of $2.11 to $5.56, and institutional investors own 1.66% of the company.
Motorsport Games Inc. (NASDAQ:MSGM - Get Free Report) major shareholder Red Oak Partners, Llc bought 5,212 shares of the stock in a transaction dated Friday, August 21st. The shares were acquired at an average price of $3.67 per share, for a total transaction of $19,128.04. Following the completion of the transaction, the insider owned 336,820 shares of the company's stock, valued at approximately $1,236,129.40. The trade was a 1.57% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Red Oak Partners, Llc also recently made the following trade(s):
- On Thursday, August 20th, Red Oak Partners, Llc bought 23,143 shares of Motorsport Games stock. The stock was acquired at an average cost of $3.86 per share, for a total transaction of $89,331.98.
- On Tuesday, August 18th, Red Oak Partners, Llc purchased 19,709 shares of Motorsport Games stock. The stock was acquired at an average price of $4.00 per share, with a total value of $78,836.00.
- On Monday, August 17th, Red Oak Partners, Llc purchased 10,404 shares of Motorsport Games stock. The stock was acquired at an average price of $3.87 per share, with a total value of $40,263.48.
- On Thursday, July 2nd, Red Oak Partners, Llc purchased 12,737 shares of Motorsport Games stock. The shares were acquired at an average price of $4.14 per share, with a total value of $52,731.18.
- On Wednesday, July 1st, Red Oak Partners, Llc acquired 3,200 shares of Motorsport Games stock. The shares were acquired at an average cost of $4.07 per share, for a total transaction of $13,024.00.
- On Tuesday, June 30th, Red Oak Partners, Llc acquired 27,744 shares of Motorsport Games stock. The stock was acquired at an average price of $3.95 per share, for a total transaction of $109,588.80.
Motorsport Games Trading Up 2.5%
NASDAQ MSGM opened at $4.05 on Tuesday. The firm's fifty day moving average is $4.26 and its two-hundred day moving average is $4.15. Motorsport Games Inc. has a one year low of $2.11 and a one year high of $5.56. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $16.89 million, a PE ratio of 9.42, a P/E/G ratio of 0.53 and a beta of 1.71.
Motorsport Games (NASDAQ:MSGM - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.17. Motorsport Games had a net margin of 16.15% and a return on equity of 41.13%. The business had revenue of $3.54 million during the quarter, compared to the consensus estimate of $2.90 million. Analysts expect that Motorsport Games Inc. will post 0.3 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on MSGM. Zacks Research upgraded Motorsport Games to a "hold" rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded Motorsport Games from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, July 10th. Finally, Wall Street Zen downgraded Motorsport Games from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 7th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Motorsport Games presently has an average rating of "Hold".
Get Our Latest Report on MSGM
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in MSGM. XTX Topco Ltd purchased a new position in Motorsport Games during the fourth quarter worth about $34,000. HRT Financial LP purchased a new stake in Motorsport Games in the 4th quarter valued at approximately $37,000. State Street Corp purchased a new stake in Motorsport Games in the 4th quarter valued at approximately $39,000. Dimensional Fund Advisors LP acquired a new position in Motorsport Games during the 3rd quarter worth approximately $46,000. Finally, Renaissance Technologies LLC increased its position in Motorsport Games by 43.8% during the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company's stock worth $113,000 after purchasing an additional 8,400 shares during the period. 1.66% of the stock is currently owned by institutional investors and hedge funds.
Motorsport Games Company Profile
(
Get Free Report)
Motorsport Games, Inc is a publicly traded developer and publisher of interactive motorsport entertainment, headquartered in Miami, Florida. The company specializes in creating officially licensed racing simulation titles and managing associated esports competitions. By focusing exclusively on the motorsport genre, Motorsport Games aims to deliver authentic digital experiences that mirror the rules, tracks and vehicles of real-world racing series.
The company's core activities include the development of video games under licenses from major sanctioning bodies such as NASCAR, the Fédération Internationale de l'Automobile (FIA) and International Motor Sports Association (IMSA).
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